Micro Technologies - 532494

Forbes had a article in  Sep 2010 about Micro technologies.

http://www.forbes.com/global/2010/0913/best-under-billion-10-micro-technologies-inventively-pleasant.html?boxes=Homepagelighttop

Promoter - Sekhar Padmanabhan, pHd from University of Mumbai. Aditya Sekhar is his son and taking over his reins - now, he is the Chief Strategic Officer.

Established in 1992

223 Cr market cap at current price of Rs. 156.20. FY11 NP was at 44Cr. Expected NPM is 10 to 13 %. Regular dividend payer with a yield of 0.5 to 0.75%. 

Mumbai based company. Production and assembly in Baddi, HP (tax benefits). 

Security products like software that calls or SMSs when someone accesses your computer or black boxes placed in power stations which monitor temperature, fuel levels, sabotage etc and calls/SMSes employees.

Clients:

Reliance Industries, Reliance Energy, ICICI Bank, Bank of Maharashtra, Sicom, 

HPCL, BPCL,  IL & FS, IOC, TVS Group, Rolta, Eureka, Glenmark, Pantaloon, 

Shapoorji Group, Mumbai Railway, RCF, Atlas Copco, MTNL & L & T etc.

http://www.microtechnologies.net/ 

IVRCL group workings

3 group companies which have been used by promoters to play around:

IVRCL (earlier IVRCL infra)

IVRCL holdings (promoted by IVRCL)
Hindustan Dorr-Oliver (promoted by IVRCL)

Promoter is Sudhir Reddy. He holds very low shares (11% in IVRCL infra, IVRCL holds 75% in IVRCL holdings and 55% in Hind Dorr-Oliver) - no pledged shares. So, essentailly Sudhir Reddy is holding very less in these companies. Government pension fund, HSBC and ICICI hold double Sudhir Reddy's shares. Again, this is not a L&T to run without promoters.

Stock split in Mar 2006

Bonus Shares 1:1 in Mar 2010

Sell a part of the company (IVRCL holdings) listing it as an IPO

Sell BOT assets of IVRCL to IVRCL holdings and move IPO money to IVRCL

Announce IVRCL and IVRCL holding to merge and move real estate to a new company

BUY UK based bankrupt firm Davy Markham through Hind Dorr Oliver.

Seek a Buyer for HDO.

Finally, move HDO's manufacturing unit into a new company and seek a Buyer for either HDO or the manufacturing company.

Great Offshore - business

This stock is in its 52 week low. Is it a good time to buy?

Approximately 2900 Cr debt as of March 2011. This is the reason, I think GOL is finding new bottoms. Profits have declined, but this company is not making any losses as such. 

Bharati Shipyard is the promoter

In 2009, Vijay Kantilal Sheth, the promoter of Great Offshore Ltd (GOL), was in trouble when lenders made margin calls under a share-pledge deal. The promoters of Bharati Shipyard stepped in to help Sheth with the required cash.

Although Bharati Shipyard’s PC Kapoor maintained that it was only a strategic investor, it subsequently wrested around 14.89 per cent stake in GOL, making itself the largest shareholder, and launched an open offer for another 20 per cent. This was the first instance in the history of corporate India, where pledged shares were invoked.

The battle to acquire GOL intensified after ABG Shipyard made a counter offer to acquire 33.8 per cent. Both continued mopping up shares from the market and revising the offer price in a takeover battle that lasted over six months. It finally came to an end when ABG Shipyard exited the race and Bharati Shipyard took control of GOL.

Source: Business Standard

A2Z Maintenance and Engineering Services - 533292

BSE: 533292 

NSE: A2ZMES

Sector: EPC, Engineering, Power


Jhunjhunwala stock, very volatile. Has been falling since listing in Dec 2010. Now at 12 times PE. This company was established in 2002. Serves state Ebs, State distribution companies and transmission companies. EPC company focussing on power.


http://www.a2zgroup.co.in/

The group lists the following companies as group companies:

A2Z Maintenance & Engineering Services Limited

A2Z Infraservices Limited

A2Z Infrastructure Limited

A2Z Powercom Limited

A2Z Powertech Limited

A2Z Water Solutions Ltd

A2Z E Waste Management Ltd

As this has listed only for a year, it is better to wait to understand the regular dividend payout. 

Pledged shares - Promoters have 42% shareholding. 17% is pledged. So essentially promoters hold 25%.

Amit Mittal the major shareholder himself has pledged 40% of his shareholding.

This share is case of major fall in prices and great loss to public who just invested because of Jhunjhunwala, engineering and power. It is not right to pay 30-40 times earnings for new companies listing in BSE comparing them to Areva and Alstom which are MNC companies. Now Areva and Alstom trade at 15-20 PE. Now A2Z is trading at 12 times. I feel there is even more downside. can buy at 10 times.

If you had bought this is IPO at Rs. 400. you have 25% of your money remaining. This is why I stay out of unknown companies in IPOs.